Cable Stages Strong Bullish Reversal - GBPUSD Elliott WaveBritish Pound/US DollarFX:GBPUSDAlchemyMarketsGBP/USD appears to have reached an important low on November 5 at 1.3010. Several wave relationships appear in the area and we can make a completed Elliott wave count for wave '2'. This trend could have reversed higher for the next several months so long as rallies unfold in 5-waves and declines in 3-waves. Wave 3 of this bullish trend could reach 1.47 and possibly 1.57.